Report: FTX legal and finance teams learned that SBF implemented a “backdoor” in FTX’s bookkeeping system to alter financial records without alerting others (MacKenzie Sigalos/CNBC)

Angus Berwick / Reuters:
Sources: spreadsheets shown by SBF to FTX’s regulatory and legal teams show that at least $1B of client funds that moved from FTX to Alameda is unaccounted for  —  At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

MacKenzie Sigalos / CNBC:
Source: Publicly-traded US bitcoin miner Core Scientific is filing for Chapter 11 bankruptcy on Wednesday, as its valuation fell from $4.3B in July 2021 to $78M  —  – Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for bankruptcy.

Manish Singh / TechCrunch:
Google acquired Alter, an AI avatar startup that helps creators and brands express their virtual identity; source: the deal closed two months ago for ~$100M  —  Google has acquired Alter, an artificial intelligence (AI) avatar startup that helps creators and brands express their virtual identity …

Koh Gui Qing / Reuters:
Records: FTX, its executives, and SBF’s parents bought 19+ properties in the Bahamas worth ~$121M over the past two years as “residence for key personnel”  —  Sam Bankman-Fried’s FTX, his parents and senior executives of the failed cryptocurrency exchange bought …

Wall Street Journal:
FTX’s collapse was exacerbated by centralization; FTX being a decentralized exchange, based on smart contracts, could have prevented SBF draining customer funds  —  Automated market makers can obviate the need to hold customer money and the opportunity for fraud.

Reuters:
Chainalysis: Binance processed around $7.8B through Iran’s largest crypto exchange Nobitex since 2018, despite US sanctions; 75% of transactions were in Tron  —  Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended …